Montenegro Will Benefit from Joining the EU Market

By joining the EU, Montenegro will benefit greatly on various levels. That is especially true for the financial sector — the country will be granted access to literally take money from EU funds for new members and that money can be used to improve the infrastructure and many other projects. Of course, the country will have a privileged position as far as the EUR currency is concerned and will have an overall better position in the financial and banking sector in Europe. As a consequence of all that, Montenegro will become very attractive to investors — way more than it is now.

All this was concluded at the conference held in the last couple of days titled “Financial system and business in EU context” which was held in Podgorica at the “Podgorica Hotel”. The conference was organized by one of the leading banks in the country — “Hypo Alpe Adria Bank”. Tarik Telaćević, the bank’s general manager, said that his bank is already using EU principles and standards in their business as a preparation of what is to come. He said that ordinary citizens of Montenegro could benefit from all this: interest rates should go down significantly when Montenegro starts to come close to the EU. “We can’t guarantee anything, but if the interest rates for citizens are 8-11% at this moment, they can only go down in the future,” said Telaćević. He noted that this will be possible because banks will be able to use those funds at very low rates, which will allow them to offer lower rates to citizens. “That’s why December of 2011 is very important for Montenegro. If the European Commission decides to show Montenegro an upper hand and start the preliminary negotiations about joining the EU, all this will start happening very soon,” concluded Telaćević. Gordana Đurović, the chief of the Ministry for European integrations of Montenegro was also present at the conference. She agrees with Telaćević and thinks that Montenegro would enormously help their citizens if they join the EU.

However, there are people who think that joining the EU isn’t that great. There were many of them at the conference, but one was particularly vocal. “I am very afraid for our agriculture. Once we open our borders to hundreds and thousands of EU producers, our market will be crowded. Our agriculture could be crushed. That’s why it is not that great just to join the EU. We have to prepare very well and make a strong bond between us, producers, and the Ministry in order to prevent foreign products to dominate our market,” said Đorđe Goranović, owner of the “Goranović Meat Industry”.

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